Loan Due On Transfer The current conventional wisdom is that so long a lender is receiving payments, the lender will not call a loan in default just because the borrower conveyed title, without paying off the debt, in violation of “due-on-transfer” clauses in the mortgage. That conventional wisdom is based, however, on experiences born out … Continue Reading
Sellers Don’t Give Up Your Clout Too Soon In tight inventory markets, sellers sometimes want to kick a buyer out of the deal because, for example, the buyer’s proof of funds or loan commitment disappoints. But once a buyer has a contract, the buyer has the upper hand. The seller will have a challenge kicking … Continue Reading
Learn how the buyer is exposed to claims that the buyer has breached the contract if the buyer applies for a lower LTV loan that the one reflected in the §4 chart in the contract.
I am a real estate investor and I acquired a treasurer’s deed to a property because the former owner didn’t pay the property taxes. Do I need a quiet title action to sell this property?
Purchasing Property Anonymously Webcast 5/1/19: Buying a Property Anonymously. It’s not unusual for Commercial Buyers to want to purchase anonymously, and it’s not uncommon in Residential transactions either! We explore the motives behind incognito purchases, options for accomplishing them, and look at how they affect the transaction.
FIRPTA: Foreign Investment in Real Property Tax Act The federal Foreign Investment in Real Property Tax Act (“FIRPTA”) generally obligates any person who buys U.S. real estate from a foreign person to escrow 15% of the purchase price from the seller to motivate the foreign seller to file a U.S. tax return. A buyer who … Continue Reading
8/2/17: How to Draft Better Additional Provisions – Part IV: The A, B, C’s of writing additional provisions with examples. Welcome. This is the fourth installment in our series of webcasts on how to draft better additional provisions in the Colorado Real Estate Commission Approved Contract. Our first one talked about the notion to first … Continue Reading
Wire Fraud – Learn how to avoid wire fraud in Colorado Real Estate Transactions 10/18/16: Wire Fraud. Don’t wire your money to criminals. Learn how to avoid getting duped!
Q: I’m a parent. Can I loan money to my child to buy a home in Colorado? Can I secure the loan against the property? What do I need to do? As of August 2016, the answer is “yes” – parents can loan money to their children to buy real estate in Colorado and they … Continue Reading
CREC Approved Forms & Seller Carry Financing. 7/27/2015: The 2014 CREC approved forms essentially eliminate the Seller Carry Financing provisions. Yet, in the right circumstances, Seller Carry Financing might be the best available option for both the seller and the buyer. Understand the options for advancing Seller Carry deals in the coming new era. More … Continue Reading